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Marketing

This is section of definition flashcards for marketing class.

TermDefinition
marketing the process of developing, promoting, pricing, selling, and distributing products to satisfy the customer's wants and needs
marketing concept all business activities should be aimed toward satisfying the consumer wants and needs whilst achieving company goals
customer orientation do it their way
economics study of allocating resources
distribution transporting of goods
marketing research the process or set of processes that links the consumers, customers, and end users to the marketer through information
brand name, term, design, symbol, or any other feature that identifies one seller's product distinct from those of other sellers
brand loyalty when a person buys products from the same manufacturer repeatedly rather than from other suppliers
Market penetration It is a measure of brand or category popularity
Brand preference One of the indicators of the strength of a brand in the hearts and minds of customers
Customer satisfaction It is a measure of how products and services supplied by a company meet or surpass customer expectation
Market share percentage of a market accounted for by a specific entity
fixed costs usiness expenses that are not dependent on the level of goods or services produced by the business
Gross margin difference between revenue and cost before accounting for certain other costs.
Gross sales the sum of all sales during a time period
Marketing spending organization's total expenditure on marketing activities
Net profit referred to as the bottom line, net income, or net earnings is a measure of the profitability of a venture after accounting for all costs
Numeric distribution the percentage of stores that stock a given brand or SKU, within the universe of stores in the relevant market.
Operating margin is the ratio of operating income
reliability used to describe the overall consistency of a measure.
retention rate Retention rate is the ratio of the number of retained customers to the number at risk
Sales effectiveness ability of a company’s sales professionals to “win” at each stage of the customer’s buying process, and ultimately earn the business on the right terms and in the right timeframe.
Price premium percentage by which a product’s selling price exceeds
sales territory customer group or geographic district for which an individual salesperson or sales team holds responsibility.
positive public relations that can help maintain a positive image
negative public relations that can be very damaging to a company and its image
person selling planned personalized communication
promotion any form of communication a business uses to inform, persuade or remind
advertising any paid, non personal form of communication
online media includes the use of email and the world web
coupons certifications that provide cash discount
product samples free trial sizes
sponsership a company pays the right to promote itself
rebate money back from a purchase
newsletter used to maintain positive relationships with shareholders
product placement featuring a product or name brand in a TV or movie
cash discounts offered encourage them to pay bills quickly
discount pricing reduction from price list
net profit difference between the selling price and all cost expense
fixed pricing same price to all costomers
monopoly one seller who dominates many buyers
markdown actual reductions in selling price
loss leaders pricing cost low or below cost to attract others
one price policy consumers generally do not negotiate pricing
pricing objectives goals a company hopes to achieve
quantity discounts received by buyers for making a large order
profit money business earns
unit pricing prices stated in terms of standard unit
skimming pricing a very high price
pricing variations off-peak pricing
Created by: haileymabry
Popular Marketing sets

 

 



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